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U.S. Inflation Pressures Ebbing Further

A monthly measure of U.S. inflation pressures fell in July, signaling a further easing of inflationary pressures in the economy, a research group said on Friday.

The Economic Cycle Research Institute's U.S. Future Inflation Gauge (USFIG), designed to anticipate cyclical swings in the rate of inflation, fell to 96.1 in July from 96.4 in June, which was originally reported at 97.4.

"Thus, U.S. inflation pressures, which were muted to begin with, are ebbing further," ECRI Managing Director Lakshman Achuthan said in a statement.

The USFIG annualized growth rate, which smooths out monthly fluctuations, fell to 0.8 percent from a revised 3.7 percent, originally reported as 5.7 percent.